Following the simple Programmable Logic Device (SPLD) and Field Programmable Gate Array (FPGA) generations a third generation of programmable logic technologies is now reaching the marketplace. These new architectures are driven by the move to system level integration and fast expanding markets such as networking and wireless communications which are not addressed adequately by mainstream FPGA's. This paper considers the technologies, business models and chances of success of the third generation companies using the Triscend CSoC and Systolix Pulse DSP architectures as examples.